Stereotype And Prejudice And Their Impact On Economic Development

Abstract

A stereotype is a preconceived notion or combination of traits that many people hold to be indicative of a certain kind of person or object.  In psychology, a stereotype is a predetermined, simplistic, and frequently biased opinion of a group of people. Stereotypes are usually irrational assumptions that lack evidence, and once someone adopts a stereotyped way of thinking, they may be unable to perceive others for who they truly are. An illogical and unfounded attitude, irrational opinion, or feeling toward an individual or a group of individuals purely because of their affiliation with a group is known as prejudice. Many people may not be conscious of their bias until it is brought to their attention, while others might be quite conscious and engaged. Stereotypes are frequently used in prejudice, which can alter how we perceive those who are different from us. The phrase is typically used to denote unfavorable notions, assumptions, or false information about an individual or group. People that are considered biased frequently "other" certain people or groups, considering them as "not one of us" because they feel they are inferior to them. Discrimination is when a person is treated unfairly or negatively because they are a member of a particular group. It could be covert, tacit, overt, or explicit. The economic development of a society is very much depending on the existing stereotype and prejudice in the society regarding caste, gender, color of human etc. In light of this, the current article mainly discussed stereotype and prejudices, their types, the positive and negative impacts of stereotype and prejudices, and their impact on the economic development of a country. The first section is about the concept of stereotype and prejudices, their types, and their positive and negative sides. The very next chapter is about the negative impact of stereotype and prejudices on economic development. At last, a broad and precise conclusion and policy implications are provided.